1. bookVolume 6 (2018): Issue 1 (June 2018)
Journal Details
License
Format
Journal
eISSN
2198-6800
First Published
16 Apr 2017
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2 times per year
Languages
English, German
access type Open Access

A Certain Seminal Character of Profit which We Commonly Call “Capital”: Peter of John Olivi and the Tractatus de contractibus

Published Online: 26 Mar 2019
Volume & Issue: Volume 6 (2018) - Issue 1 (June 2018)
Page range: 11 - 20
Received: 10 Dec 2017
Accepted: 09 Jan 2018
Journal Details
License
Format
Journal
eISSN
2198-6800
First Published
16 Apr 2017
Publication timeframe
2 times per year
Languages
English, German
Abstract

Tractatus de contractibus shows that there are mainly three fundamental economic views that characterize the originality and the acuteness of Olivi’s thought: a subject-based theory of value, a theory of just price, and the theoretical-systematic use of the concept of capital. Olivi’s distinction between simply sterile money and fertile, lucrative money – called capitale (capital) – is central. His – at that time – revolutionary thought challenges the theory of money as a mere means of exchange; he acknowledged the legitimacy of trade and the added value (valor superadiunctus) of capital. Thus, he allowed a price as compensation or as remuneration for the owner’s foregone use of the capital. This is not a mere scholastic subtlety, but it is a serious attempt to grasp different phenomena with different concepts.

Keywords

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